Page:United States Statutes at Large Volume 18 Part 2a.djvu/80

 GENERAL INCORPORATION. 75 _SEO. 624. Three judges of election shall be chosen by the board of Duties of judges ehrectors previous to any such annual meeting, who shall be stockhold- °*` °l“°**°¤· ers, but not directors, at the time of the election, whose duty it shall be to receive the votes of the stockholders at such election for directors, B. 10, v. hi, p. ll)?. ’ and to openly count the votes and declare the result. Sec.   The judges of election shall furnish the directors elected at Theiroortit1oatesuch meeting of stockholders with a certificate of their election, which its authority. ’ certificate shall he evidence of their authority to act as such directors. Ibid.,pp. 109, 110. Sec. 626. There shall be not less than seven nor more than thirteen Directors; umudirectors. No person shall be a director unless he shall be a stockholder l’°’· ‘1“”1m°°*i°”°· and qnalihed to vote for directors at the election at which he shall be and t°"“ °f °m°°‘ chosen. The directors shall hold their offices one year, and until others Ibid.,p. 110. are elected   qualified. Sec. 627. Directors shall be chosen at the annual meeting of stock- How chosen. holders by ballot, and by a majority of the votes of the stockholders Y present, in person or by proxy; and every such stockholder being so ` present at any election of directors, shall be entitled to give one vote for every share of stock which he may have owned for ten days next preceding such election ; but no stockholder shall vote at any such election upon any stock except such as he shall have owned for ten days. Sec. 628. In case it shall happen at any time that an election of direct- _ N0¤—<>1ccti¤u of ors shall not be made on the day designated by the by-lawsof the company ‘]“°°’°‘?'“ 9 h ° W when it ought to have been made, the company for that reason shall not be dissolved if within ninety days thereafter they shall hold an election Ibid., s. 13. p. 110. for directors in such manner as the bylaws of the company shall provide. Sec. 629. Meetings of the stockholders may be called at any time Stockholders' during the interval between the annual meetings by the directors, or by *;l’°°‘“;,,;'é°°°"‘g“9 the stockholders owning not less than one·fourth of the stock, by giving ji'; thirty days’ public notice of the time and place of the meeting. 1l>id.,s.11,p.110. Sec. 630. When any such meeting is called by the stockholders, the _ Pr<>¤¤·=<1i¤a¤; adparticular object of the meeting shall be stated in the notice, and, if at ·l°““"“°"°· any meeting thus called a majority in value of the stockholders are not Ibid. represented in person or by proxy, such ‘meeting shall be adjourned from day to day, not exceeding three days, without transactiug any business, and if within such three days stockholders having a majority of the stock do not attend, the meeting shall be dissolved. Sec. 631. The directors shall have power to make by-laws for the By-laws. management and disposition of stock, property, and business affairs of Ibm__ s_ 15, 1,,; such company, and prescribing the duties of the officers, artiiicers, and 110,111. servants that may be employed, and for the appointment of all the officers for carrying on all the business within the object and purposes of the company. Sec. 632. There shall be a president of the company, who shall be Omoers; how chosen by and from the directors, and also such subordinate officers as °l¤°*>°¤· the company by-laws may designate, who may be elected or appointed, n,m_,,,_1;;,P_ no and required to give such security for the faithful performance of the duties of their offices as the company by its by-laws may require; but nothing contained in this section shall be so construed as to prevent the stockholders from removing a president in the manner prescribed in the following section. Sec. 633. At all general meetings of the stockholders of any such _ Removal of proscompany, a majority in value of such stockholders may remove any ¤d<·>¤*- president or any director, and elect others in their stead; but notice of Ibm_ ,_12_ such intended removal shall have been given as required in sections six hundred and twenty-three and six hundred and twentyeight. Sec. 634. At each regular meeting of the stockholders of any such Annual statocorporation it shall be the duty of the president and directors, in office "’°“° °* “ff‘“"“· for the preceding year, to exhibit a clear and distinct statement of the Ibid. affairs of the company. Sec. 635. At any meeting of the stockholders a majority of those May  c=»ll<>·l present, in person or by proxy, may require similar statements from the *3* FP “Q j"‘j`l"‘¤g directors, whose duty it shall be to furnisln them when required. lhid.